NJ Bets Big On Plasma Technology With New Innovation Center In Princeton Area

PRINCETON, NJ - The New Jersey Economic Development Authority (NJEDA) announced it is opening a new plasma technology center in the Princeton-Plainsboro area.

In partnership with venture capital firm SOSV and Princeton Plasma Physics Laboratory (PPPL), New Jersey will create the NJ HAX Plasma Forge, a new Strategic Innovation Center.

The center will help promote industry collaboration and commercialize groundbreaking technologies in an emerging economic sector.

“Through targeted investments and expanded resources for our state’s entrepreneurs, New Jersey is poised to lead in innovative industries like plasma and artificial intelligence,” said Governor Phil Murphy. “The NJ HAX Plasma Forge, along with other Strategic Innovation Centers across New Jersey, will support startup creation, generate high-paying jobs, and strengthen the state’s long-term economic competitiveness.”

The facility will feature up to 10,000 square feet of lab and co-working space near PPPL in the Princeton area, equipped for low-temperature plasma research and fusion supply chain development.

PPPL, a U.S. Department of Energy national laboratory managed by Princeton University, conducts essential research across a full range of plasma applications to solve science and technology challenges.

SOSV will provide up to $24.5 million in seed funding to participating startups, while the NJEDA plans to invest an additional $24.5 million in operations and company investments, pending board approval.

“Plasma is a powerful tool in the deep tech arsenal, a technology that unlocks nuclear fusion, powers advanced spacecraft, and manufactures futuristic AI chips,” SOSV General Partner and HAX Managing Director Duncan Turner said. “PPPL is a world-renowned leader in this field, and we’re thrilled to partner with them to unlock new possibilities. At SOSV, we’ve already backed a handful of startups harnessing plasma technology, and this new lab, made possible by the NJEDA, will allow us to expand and deepen that effort.”

Plasma technology has applications in fusion energy, advanced spacecraft propulsion, and AI chip manufacturing. The initiative aims to establish New Jersey as a leader in this emerging sector while supporting the state's clean energy goals.

SOSV previously partnered with NJEDA to establish HAX's flagship U.S. headquarters in Newark, which provides up to $550,000 initial investment per company and 180 days of collaboration support. PPPL, managed by Princeton University for the U.S. Department of Energy, conducts research across plasma applications from fusion energy to nanoscale manufacturing.

This marks the 11th Strategic Innovation Center announced by NJEDA, joining facilities focused on AI, fintech, aerospace, life sciences, and biotech across New Jersey.

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